Its far better than any other area i've looked into over the last two years. 

Hi Brenden,Your plan to use a HELOC to convert your basement into a rental unit sounds like a solid house-hacking strategy, especially if you can get $3,000 in combined rent.

-Sale my home that I currently live in to fix up the apartment building or-Keep my home and rent it out- use HELOC or-Take out a loan to fixAny advice is appreciated, Thank you!

You can also look into the builder to make sure that they are reputable.Also, look up some videos on selling a house for sale by owner in your state.

I'm in a number of social groups for private lenders and have run into a lot of scams.

Actually, their MHP bootcamp was one of the first things I did when I got into the space.

The basement is empty and we are looking to finish the space and turn it into another unit.

I ran into these gugys personally coming out of the GFC were money was really tough to raise..

in what I just laid out, you'd make monthly payments to the seller just like you would to a bank for 5 years, and then the remaining principal balance of the loan would be due, at which time presumably you would refinance the house into a commercial mortgage and use the proceeds to pay off the seller. 

I had a loan officer suggest to do this. I was curious if this is a good idea. It seems like a good idea, but I feel like I am missing something here. I would love to hear other's opinions on this. Thanks so much for ...